Compare Business Electricity Prices
Get the latest business electricity rates in less than 30 seconds.
It's 3 easy steps. Compare prices, choose from our business electricity deals and complete your switch online.
Compare Business Electricity Rates From Leading UK Suppliers
Why Compare Business Electricity Rates?
You can compare business electricity rates online in just 30 seconds. We work with a trusted panel of suppliers to help UK companies find exclusive business electricity deals.
Business electricity comparison is just a few clicks away. Once we have a few details, choose the best tariff for your company. You can switch entirely online.
We'll aim to have you switched over to your new supplier within five working days.
Once your renewal window opens, we will get back in touch so you can avoid any expensive out-of-contract rates.
How To Compare Business Electricity Prices
Unlike others in the market, businesses can switch suppliers completely online. Our tech-first approach helps busy businesses find time to save money on electricity. Comparing prices at are unique to your business takes just 30 seconds by using just your address with permission to look at your usage from your meter.
We work with a panel of trusted suppliers to ensure you’re getting a great deal from a reliable provider. We’ll have you switched over to your new provider within 5-working days. You can lock in your new business electricity rates up to 12 months before the contract end date. Your new contract will take effect once your current one ends.
Choosing A Business Electricity Tariff
Think about your opening hours and when you're using electricity. Selecting the right business electricity tariff can have a big impact on your monthly bills. Here are the tariffs you can choose from.
The unit price you pay for electricity will be fixed for an agreed amount of time. Business owners who value budgeting and controlling their bills are attracted to this tariff.
Variable-rate tariffs offer great flexibility. The unit price you pay for electricity will go up or down each month. This is a great fit for businesses that are open to more risk. This is a popular tariff in times of high electricity rates as many wait for prices to drop.
Renewable electricity tariffs offer a great option for businesses aiming to reduce their carbon footprint. Often there's not much difference in the unit price of renewable tariffs and some suppliers offer 100% renewable as standard.
Businesses will be placed on a rollover tariff if a new deal has not been agreed. This is a legal contract for one year and the unit rate can be more expensive than previously paid.
Deemed Rate Tariffs
Deemed rate tariffs are for businesses moving into new premises and have not agreed to a deal. This only happens when a business electricity contract has never been in place at the property. These are some of the most expensive business electricity rates.
Large consumption business electricity users can purchase in bulk. Purchasing electricity at the beginning of the contract offers cheaper unit rates.
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View live business electricity rates online
See live business electricity rates online from a trusted panel of UK suppliers.
Switch to your new supplier
We will handle the switching process once you have chosen your tariff and supplier. We will have you switched over within 5 working days.
Finding Cheap Business Electricity Rates
Business electricity rates are dependent on multiple factors, including location and consumption. This means the business electricity price per kWh available to you changes from day to day. Using our comparison engine is a great way to find the best business electricity rates.
The table below features the latest average commercial electricity prices per kWh for February 2024. You should compare business electricity prices today for an accurate quote.
What Are the Latest Business Electricity Rates per kWh?
|Unit Price per kWh
|Daily Standing Charge
|Estimated Annual Cost
|5,000 to 15,000 kWh
|15,000 to 25,000 kWh
|25,000 to 50,000 kWh
|Above 50,000 kWh
Data is correct as of 1 February 2024. Business electricity rates are based on a two-year contract taken from a UK average price of tariffs from Love Energy Savings’ panel of suppliers. The table is the average business electricity unit rates per kWh, standing charge, and the annual cost based on yearly minimum kWh usage banding. Business electricity quotes may be impacted by meter type and business location.
Latest Business Electricity Rates Per kWh By Supplier
Business electricity suppliers’ rates vary, and you will also want to consider customer service ratings.
These numbers are a guide. You will get the clearest idea of what business electricity rates are right now by using our free comparison engine.
Data correct as of February 2024. Full-year prices are based on a two-year business contract commencing on February 1 2024, with a 25,000 kWh annual usage. Prices reflect a live market and are subject to fluctuation.
Energy Bill Discount Scheme For Businesses
The government has introduced the Energy Bill Discount Scheme (EBDS). This offers companies varying levels of discount on their business electricity between April 2023 and March 2024. You don’t need to apply for the discount and you can still secure a fixed-rate deal.
The EBDS only becomes active during periods of high wholesale electricity rates and is subject to a maximum discount.
Wholesale Rates Threshold*
Normal Businesses (not electricity-intensive industries)
Electricity Intensive Industries
Average Small & Micro Business Electricity Rates (3-Year Fixed Contract, February 2024)
|Unit Price/ kWh
(up to 5,000kWh)
Small Business Electricity Prices
Small businesses often have smaller margins and can be impacted more by business electricity prices fluctuating regularly. Many owners decide to secure their rates with a fixed-rate tariff for 2 to 3 years for budgeting and predictable billing.
The truth is nobody knows with absolute certainty if wholesale electricity prices will go up or down. We can make predictions, but many prefer the security of knowing what they will pay.
Are Business Electricity Rates Getting Cheaper?
We've seen business electricity prices firmly stay at a similar price for a few months now. Electricity rates are impacted by demand, wholesale prices and multiple other factors. This means business electricity rates can go up or down on any given day. Many companies are choosing to grab a fixed rate deal for security and the ability to predictably budget.
Here's a graph that shows how electricity prices have changed since last year.
Large Commercial Electricity Rates
Each business has its requirements when searching for commercial electricity solutions.
We will help you build a bespoke tariff. Incorporating energy management systems, and ISO 50001 requirements; right through to meter installation.
Securing great commercial electricity rates includes buying from wholesale suppliers and collective buying schemes.
Switching your contract with us means you will have access to various management tools. This helps with managing energy efficiency and controlling costs.
Your account manager will remind you when renewal opens.
This ensures you get a handle on your business electricity prices. You will never be placed on an expensive rollover contract.
Energy Management Software
Energy Management Software solutions deliver the ability to monitor and analyse electricity usage.
If you have a half-hourly or smart meter installed on your premises, then you can control your data using a range of integrated software solutions. Energy management allows your company to track actual usage versus averages.
Finding The Best Large Business Electricity Rates
The average large business in the usage band of 50,000 to 100,000 kWh of electricity can expect to pay a unit rate of 29.70p. This equates to an annual cost of £30,369 (rounded up) when including other charges.
A standard rate of 20% is applied to business energy. Some businesses may be eligible for a VAT reduction. You can read more about VAT on electricity bills here.
Business Electricity Rates FAQs
Can I Switch to a No Standing Charge Tariff?
No standing charge tariffs have not been available for a few years. However, they may come back in the future.
Many providers will not offer an electricity tariff with a zero standing charge with a competitive kWh cost putting many businesses off.
No standing charge tariffs can benefit businesses which operate seasonally and those that open just a few days a week.
Is Business Electricity Cheaper Than Domestic?
Business electricity prices are cheaper than domestic. This is because providers usually only buy your supply of electricity once the new contract has been agreed upon.
This means that if the company agrees to a 4-year contract, the supplier will purchase the electricity to cover the full contracted period.
How Can Energy Management Systems Help My Business?
Companies can lower expenses by reducing consumption and introducing energy-efficient products. Innovations together with software help manage usage and maintain visibility reporting.
The Carbon Trust estimates that investing in efficiency annual savings of between 10% and 20% are achievable throughout the company.
What Does ‘kWh’ Mean?
A kilowatt hour (kWh) is the name given to a unit of energy and is the standard unit. This is a metric used to calculate usage and cost.
This is calculated on a price per kWh basis. 1 kWh would approximately equate to using a desktop computer for 3 hours or boiling a kettle 10 times.
What Is The VAT Rate On Business Electricity?
The standard VAT charge on business electricity is 20%. Some companies may be eligible for a discount to 5% (non-profits).
Our VAT on Business Electricity guide explains this in more detail.
Are Business Electricity Rates Cheaper At Night?
You can get cheaper business electricity rates at night if you have a multi-rate meter.
How Long Does It Take To Switch Business Electricity?
We’ll aim to switch you to your new supplier within 5 working days.
What Is Classed As A Large Business?
You're considered a large business if you consume more than 55,000 kWh of electricity per year.
What Is A Meter Point Administration Number (MPAN) Used For?
MPAN is short for Meter Point Administration Number. This is a unique identifier that is assigned to each electric meter. These numbers are 21 digits long and can be found on your business electricity bill or on your meter.
What Is The Difference Between a Small Business and a Micro Business?
A micro-business is defined by the EU as having less than ten employees or a turnover of less than £1.8 million. This definition would cover most of the 4.4 million businesses operating in the UK.
How to Reduce Small Business Electricity Bills?
Reducing consumption, switching suppliers and direct debit discounts are the easiest ways to save money on business electricity.
A great way to reduce the cost of business electricity is to conduct a business electricity audit.
How To Set Up Business Electricity for The First Time?
There are four main steps to setting up your business’ electricity. These are:
- Locate your meters and take a reading – This is the first task you should complete when you move into your new business premises. Take an electricity meter reading will measure the energy you’ve used since entering the property and help ensure that your future bills are accurate.
- Find out your current supplier – Once you’ve recorded the meter readings, you’ll need to provide them to the building’s current energy supplier. You can find out who this is by enquiring with the property seller or the previous tenants. Alternatively, you can use the Meter Point Administration’s online tool to find out your gas supplier and use the Energy Networks Association tool to find out who supplies your electricity. These services will also be able to inform you of your MPAN and MPRN.
- Choose a tariff – Your business electricity needs may be different to your building’s previous owners, so you should consider the different types of tariffs available. For example, you can choose between fixed-rate contracts, variable-rate contracts, multi-site contracts, and Economy 7 and Economy 10-meter tariffs.
- Compare deals – Finally, once you have an idea of the type of contracts your business requires, you can compare business electricity tariffs to find the best deal.
What Costs Make Up Business Electricity Prices?
Your business electricity bill includes the following:
- Unit rate (charged in pence per kWh)
- Daily standing charge (charge at a rate of pence per day)
- VAT at 20%
- Climate Change Levy (CCL)
The unit rate is used to calculate how much electricity has been used. A daily standing charge will be added to the annual total. For example, a standing charge of 50p would be multiplied by 365 days.
Businesses will pay the standing charge regardless of how much energy they have used that day.
VAT will be applied to the business electricity bill at a standard rate of 20%. Non-profit businesses may be eligible for a discounted VAT rate.
Businesses will also be charged a Climate Change Levy (CCL). This is a 'green tax' charged at 0.775p for electricity for the period April 2023 to March 31st 2024.
How To Get The Best Electricity Quotes For My Business?
To get the best electricity quotes for your business, start by understanding your energy needs. Look at different energy suppliers, and compare rates, contract terms, and customer reviews. Choose a reliable supplier with favourable contract terms that align with your business goals.
Check unit rates and additional charges to find the most cost-effective option. Consider renewable energy choices if sustainability matters to your business. You can also get government support if your sustainability goals align with grant guidelines.
You need to prioritise good customer service for quick issue resolution. Negotiate terms with suppliers and seek advice from our Business Electricity Prices expert team to navigate the process efficiently.
Following these steps will help you secure the best electricity quotes to suit your business needs.